A & S Dry Lining Limited - Period Ending 2016-03-31

A & S Dry Lining Limited

Annual Report and Unaudited Micro-Entity Financial Statements

for the Year Ended 31 March 2016

Palmer, Riley & Co.
Chartered Accountants
First Floor, Unit E2
Fareham Heights
Standard Way
Fareham
Hampshire
PO16 8XT

A & S Dry Lining Limited
Contents

Directors' Report

Accountants' Report

Profit and Loss Account

Balance Sheet and Notes to the Financial Statements

A & S Dry Lining Limited
Directors' Report for the Year Ended 31 March 2016

The directors present their report and the unaudited financial statements for the year ended 31 March 2016.

Directors of the company

The directors who held office during the year were as follows:

Mr A L C Brewer

Mr S Kerley

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 24 October 2016 and signed on its behalf by:

.........................................
Mr A L C Brewer
Director

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A & S Dry Lining Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & S Dry Lining Limited for the year ended 31 March 2016 set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of A & S Dry Lining Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A & S Dry Lining Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & S Dry Lining Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A & S Dry Lining Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A & S Dry Lining Limited. You consider that A & S Dry Lining Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A & S Dry Lining Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Palmer, Riley & Co.
Chartered Accountants
First Floor, Unit E2
Fareham Heights
Standard Way
Fareham
Hampshire
PO16 8XT

24 October 2016

Page 2

A & S Dry Lining Limited
Profit and Loss Account for the Year Ended 31 March 2016

	2016 £	2015 £
Turnover	692,863	507,371
Other income	117	47
Cost of raw materials and consumables	(216,526)	(167,381)
Staff costs	(21,200)	(19,167)
Depreciation and other amounts written off assets	(3,966)	(4,603)
Other charges	(350,914)	(212,405)
Tax	(20,097)	(20,645)
Profit	80,277	83,217

Page 3

A & S Dry Lining Limited
(Registration number: 04303021)
Balance Sheet at 31 March 2016

	2016 £	2015 £
Fixed assets	13,137	15,808
Current assets	67,310	93,401
Prepayments and accrued income	712	187
Creditors: Amounts falling due within one year	(28,323)	(51,106)
Net current assets	39,699	42,482
Total assets less current liabilities	52,836	58,290
Creditors: Amounts falling due after more than one year	(7,559)	(10,416)
Provisions for liabilities	(2,450)	(2,946)
Accruals and deferred income	(4,444)	(6,662)
Net assets	38,383	38,266
Capital and reserves	38,383	38,266

Notes to the Financial Statements

1	Directors'' advances, credits and guarantees

Directors'' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr A L C Brewer
Loans advanced to the director to finance his personal living costs which are repayable on demand. Interest is charged on these loans at the beneficial loan interest rate	48,865	50,848	45,692	40,235


Mr S Kerley
Loans advanced to the director to finance his personal living costs which are repayable on demand. Interest is charged on these loans at the beneficial loan interest rate	50,381	50,848	45,692	38,720

Page 4

These accounts have been prepared in accordance with the micro-entity provisions and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the Board on 24 October 2016 and signed on its behalf by:

.........................................
Mr A L C Brewer
Director

Page 5